MADRID, July 28 Spanish lender Bankia
will probably take new long-term loans from the European Central
Bank in upcoming auctions, at which it can borrow around 3
billion euros ($4 billion), Financial Director Leopoldo Alvear
said on Monday.
The ECB said in June it would give banks fresh access to
long-term liquidity in order to improve lending to euro zone
companies, in two so-called targeted longer-term refinancing
operations (LTROs) in September and December of this year.
Bankia, which is majority-owned by the Spanish state, is
still working out exactly how much it is entitled to borrow and
has yet to make a final decision on whether to take the funds,
Alvear told a news conference.
($1 = 0.7444 Euros)
(Reporting by Sarah White and Jesus Aguado, Editing by Paul